Parallel Improvement Protocol (PIP): PIPs are about the most important modifications either on the governance framework, or on the protocol directly.
- This type of proposal should include, in addition to all the points mentioned in the first part:
- Context: What’s the modification and why it’s needed.
- PIPs would concern but wouldn’t be limited to:
- New version of the protocol
- Modification of a smart contract
- Updates on the initial parameters
- Modification of the governance framework
- Add/Remove a signer on the treasury multisig
- PIPs are the most critical and important types of proposals, as it’s directly about the core product of Parallel or a major change in the functioning of governance.
- It’s very important to get as much dao members aware of this kind of proposal for them to vote accordingly, which is why we should consider more conservative parameters, and a longer voting period:
- Admin: DAO Multisig
- Quorum: 0.5% of the total supply (5M vMIMO)
- Voting duration: 9 days